Valley National Advisers Inc. Trims Stock Position in U.S. Bancorp (NYSE:USB)

Valley National Advisers Inc. lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,276 shares of the financial services provider’s stock after selling 1,480 shares during the quarter. Valley National Advisers Inc.’s holdings in U.S. Bancorp were worth $2,961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in USB. Vestor Capital LLC grew its stake in shares of U.S. Bancorp by 1.5% during the 4th quarter. Vestor Capital LLC now owns 17,179 shares of the financial services provider’s stock valued at $744,000 after acquiring an additional 253 shares during the period. Mosaic Family Wealth Partners LLC grew its stake in shares of U.S. Bancorp by 1.4% during the 4th quarter. Mosaic Family Wealth Partners LLC now owns 19,223 shares of the financial services provider’s stock valued at $832,000 after acquiring an additional 265 shares during the period. Wealth Alliance boosted its stake in U.S. Bancorp by 0.5% in the 4th quarter. Wealth Alliance now owns 49,229 shares of the financial services provider’s stock worth $2,131,000 after purchasing an additional 266 shares during the period. EverSource Wealth Advisors LLC boosted its stake in U.S. Bancorp by 8.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 285 shares during the period. Finally, United Community Bank boosted its stake in U.S. Bancorp by 0.7% in the 4th quarter. United Community Bank now owns 40,371 shares of the financial services provider’s stock worth $1,747,000 after purchasing an additional 289 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 1.1 %

USB stock traded down $0.44 during midday trading on Wednesday, reaching $39.53. The company’s stock had a trading volume of 3,715,540 shares, compared to its average volume of 8,376,438. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a fifty day simple moving average of $40.30 and a two-hundred day simple moving average of $41.62. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.85. The firm has a market capitalization of $61.68 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 3.82 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The business’s revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts predict that U.S. Bancorp will post 3.84 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on USB shares. StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. UBS Group dropped their price target on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Oppenheimer dropped their price target on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Evercore ISI upped their price target on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Finally, Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $45.84.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.